As a good Democrat, I agree with Obama that letting the tax-cuts of the rich expire (and the experts say there are not enough deductions to accomplish the same thing through limiting them) and using that money to reduce the debt, or for teachers, infrastructure and such stimulus, or to avoid tax increases for the middle-class who spend a higher portion of their income and thus the money would help the economy improve faster, is the sounder fiscal policy.
But the Republicans in the House are dead-set against it to protect their rich Republican friends.
And playing chicken with the fiscal cliff doesn't seem to most to be a good idea.
So will one of those Phi Beta Kappa Mensas on either side of the aisle in DC please suggest that the two sides split the difference and let 1/2 the tax-cuts for the rich expire, and the other half continue for some reasonable period of time, and let's move on to deductions and other issues to avoid the fiscal cliff disaster? Whichever side proposes it first will gain lots of capital (not Bain Capital) with the voters, and woe be unto the other side that opposes such a reasonable and natural compromise, in my opinion.
“First they ignore you, then they ridicule you, then they fight you, then you win.” Mahatma Gandhi